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mandatory cuts in federal spending, another debt ceiling vote, along with new worries over the effect of any cuts on a still-weak economy. at issue is nothing less than the size and responsibility of the federal government. we call the film "cliffhanger." frontline is made possible by contributions to your pbs station from viewers like you. and by the corporation for public broadcasting. major support for frontline is provided by the john d. and catherine t. macarthur foundation, committed to building a more just, verdant and peaceful world. more information is available at macfound.org. additional funding is provided by the park foundation, dedicated to heightening public awareness of critical issues. and by the frontline journalism fund, with a grant from scott nathan and laura debonis. >> polls open across the... >> it's going to be a fierce battle for control of the house and the senate... >> one of the most closely watched midterm elections in years... >> decision day, voters across america head to the polls for midterm elections, with control of congress hanging in the balance... >>
something which had not been done before, which is to use the debt ceiling vote for maximum leverage and threatened to throw the country into default. >> narrator: without raising the debt ceiling, the government would be unable to pay its bills. cantor saw the threat of a no vote as leverage to force the president to accept dramatic spending cuts. >> you always look for these moments when the president has to have something passed. but the debt ceiling represents the equivalent of a massive fiscal heart attack. >> narrator: cantor told them no president could ignore the threat. >> it has to be done. it's essential. if you don't raise the debt limit, you can no longer borrow, you can't pay your bills. you default. >> narrator: the new republicans got the message. >> in other words, "look guys, as a team we recognize that this is a leverage point. trust us and we're going to use it so that you fulfill your campaign promises." >> narrator: majority leader cantor had laid out an approach that would put the new congress in direct conflict with the white house. >> it was clear the republi
, and these two questions at the constitutionality of the debt ceiling legislation through the house and senate on the pay issue in payment of the public debt in social security, whether they have enough in their surplus from what people paid regardless of what the government is taken out, or what they have paid in counts. it is count in the deficit numbers picture trying to do something about? who wants to go first? congressman price. >> yeah, the debt ceiling affairs. nobody is talking about paying the data. nobody is talking about not paying the public debt. what were talking about is making sure we get are spending under control so we can create an economy that's vibrant and be able to cover the debt of this great country without the austerity measures we've seen in other countries. so there's two things you got to think about. the debt that's been incurred. yes, the nation is good for that type. and the path forward. are we going to ban that down so they can actually have an economy that is vibrant and create jobs, or are we going to go as far as the eye can see? you could do some point we
the president asked. remember we went to the debt ceiling and couldn't get anywhere this is one thing he asked. when he didn't want to do anything about it coming to the future and ignore it. remember in his presidential campaign second debate said this would never happen. it's never done any action to try and cut somewhere else. even though the house, the republicans led last term and passed a bill twice and died in the senate and didn't take action. now that it's coming to the deadline, he wants to ignore, that's kicking the can down the road. you can't do that. we spend more than we bring in. i mean, look, in the first two months of this new fiscal year, our revenue increased by 10%, an extra 30 billion, but our spending increased 16 billion. and 30 seconds left. and yep, i've got to do that one? >> i thought when he talked about men and women in our military making sure they're able to do and be the very best, yeah, we all agreed. i thought when he talked about looking for the future in investing and research, i'd like to invest in research further. i know that pays off. but you can't make
the inside game, he's gotten nowhere. and so his lesson that he's taken away i think from the debt ceiling debacle and the way he won the payroll tax fight in the early part of 2012 was that you win by playing the outside game, by bringing public pressure on congress. you can't win by just playing the game, as david axelrod put it once, by trying to negotiate with republicans in quite rooms. he's got to drive public pressure, and that's the only way progress is going to happen. >> we've got kevin mccarthy coming up in 30 seconds. quickly, robert gibbs, when i hear the speech last night, and it looks like he's brushing past republicans, i think back to that editorial meeting in reno, i think it was, back in 2008 where he said i want to be a transitional president like reagan. i think this is about building a center/left coalition for a generation to come. that's his goal. >> i think what john said is right. look, you're dealing with members of congress that are sitting at a 12% approval rating, right? you don't spend a lot of time in meetings thinking, what happens if we go to 7%, right? th
>> and confronting a fiscal cliff and sequestration, debt ceiling default and sequestration in march, government shutdown in april, another potential debt ceiling default in may could perhaps shake the confidence of some ininvesters in our ability to deal with our responsibilities? >> yes, congressman. we think that the perennial crisis mode of fiscal policy over the past few years is reducing people's kfls. how big an effect that is, we don't know. >> thank you, chair. thank you, doctor, for being back with us. i think by anyone's objective measure in this town or country we would consider you a smart man, an intelligent man, a good economist, right? >> thank you, congressman. >> that's why it befuddles me although it's certainly a measure's prerogative, it strikes me that some of us want to speechify rather than engage new conversation through some questioning and that's, for the record, i have so say i really appreciate mr. jeffrey's line of questioning. i'll try to continue on in that regard. speaking of speechifying. we heard that it's impossible to get ourselves out of this debt situation
on the debt ceiling and get an increase on the tax rates on the richest in america. the republicans think that that was more than enough. they don't want to talk about revenues anymore. but the president tonight is going to talk about revenues. not tax rate increases, but other measures to generate -- >> okay. howard, breaking news from california. let's go to l.a. >> -- treated here. and unfortunately one of our deputies passed away as a result of his injuries. i'll take a couple of questions. >> anything you could tell us about the other deputy that was brought here? was it another san bernardino county deputy? >> yes. both were. >> and his condition? >> he's in surgery, but he should be fine. >> i was told by a source that the deputy was shot in the face. can you -- >> i'm not going to comment where his injuries are. >> are they aware it might have been dorner in the stolen car when they tried to pull him over or something? >> that information was made aware to the deputies that the suspect matched the description. he crashed the car and then took off into the forest. >> anything you c
cliff, debt ceiling, all of this, i'm looking for an investment that etf based and is gold, but based on the physical. i think -- i'm really into like, you know, physical investing and not just straightup normal etfs. >> well if that's the case, you got to be careful. i -- the closest we have is the gld and i'm not backing away from that. i think that is -- i've talked to a lot of gold dealers, some are nervous, some aren't. i think gld does fine. always telling you too do your homework. why? it's a way to have conviction. leave the panic to everybody else, and i'll try to make you even more money. >> jim cramer, one of my heroes. >> i look forward to your show every week night. >> thank you so much for helping beginning investors like me. >> when you talk about the market, i just believe that you're spot on. >> i love it. thank you so much. every night we watch you. i have learned and earned. at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an al
in march. but i do think the debt ceiling debate ahead of us in may and beyond is a place where we can put the marker down for a balanced budget amendment. martha: laid out that way doesn't sound liked you guys will have a whole lot to do. sounds like a lot more paralysis that is a thing frustrating to so many americans on both sides of the aisle. perhaps, you know, republicans need to articulate, you know, more clearly to the american people what your vision is for spending cuts. i, i know you probably feel you tried to do but is there something done on both side to prove to the american people that you're working and you're trying to present something that could build some kind of a bridge to get something accomplished before 2014? we're constantly in an election cycle it feels? >> it seems like that in the house where we're up for election every two years. building a bridge on spending when you have a president that says we do not have a spending problem. then he advocates for a series of programs and says it is not going to increase our deficit by one dime. i don't know anybody that to
, the automatic spending cuts agreed to in the debt ceiling deal of 2011 and make radical across the board cuts to the pentagon and spending. and the republicans decided that's the only leverage they have over obama to make real cuts in spending, which the administration has shown no inclination to do. i think what obama wants to do is to go out as one indicated, campaign in the country against the republican position. and i think he'll try to portray the republicans as he did in the campaign as protecting the rich, protecting the tax loopholes that the the rich have, the big corporations and be willing to cut from medicare, food stamps, et cetera. so his position is i represent the people, they represent ideology. i represent the folks and they he represent the rich. and he won the election on that kind of argument. he won on the fiscal cliff, on that kind of argument. if he came out to win the next round on the sequester, i think he will have weaken and fractured the republican house in a way that will clear the way to his being the dominant actor in washington for the next term and completed
that suspended the debt ceiling until may. i voted for that bill because i didn't want to expunge the credit rating of this country or have the economy plunge into a recession. that vote was a short-term fix in what has been a series of short-term fixes. short-term fixes no longer cut it when it comes to running the world's biggest economy. instead of thoughtful, long-term planning, we have contented ourselves with political sideshows. we have budgeted with continuing resolutions and held endlets party zahn committee hearings and dismantling so-called job killing legislation like the clean air act. we voted 33 times to repeal all or part of the president's health care plan. we attempted to balance the federal government's budget by zeroing out planned parenthood. that's not careful planning, that's tired political dogma. in the famous speech about the vietnam war, dr. martin luther king jr. said, we are confronted by the fierce urgency of now. we again find ourselves at a conflict that threatens the political fabric of our nation. the integrity of our institution. he we face a mountain of de
're at the ceiling, there is going to be a big part of the debate. do we extend the ceiling. have you a trillion dollar deficit but you say you will be budget neutral. seems to not add up to people. seems we have to start paying down debt as opposed to staying neutral. is it enough to be neutral? that's the question. >> the president was talking about entitlement reform. he is talking about we can't be governed by the deficit because we have to invest in our future. >> sounds like you're not going to pay it down, then. >> he also said, you know, i want to figure out a way to do this and do tax reform at the same time. >> and so you will raise taxes to pay for what you're doing, is that what he is saying? >> you're going to get rid of loopholes, et cetera. >> help me with that. tell me, closing loopholes is always a great answer. does that make sense? can that be done? >> it makes sense and there are a number of proposals in the congress since speaker gingrich's days of proposals and not if it brings more money to washington. the president says duke that and it will bring more money. >> if you cl
Search Results 0 to 28 of about 29 (some duplicates have been removed)

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